December 16th, 2022 1:30 PM by T. Fanning
Hi, I hope you have a great weekend!
Rates had a nice week, ending the week lower. Next week has a good number of economic releases set to be posted. None of them are considered to be major reports, but a couple of them are considered to be more important than others. The most influential reports will come late in the week. Monday is the only day that doesn't have at least one item scheduled that we will be watching.*
We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: Chenoa Fund loans; FHA and VA 1x Close Construction-Perm; 1.50% Down FHA Advantage Program; CHFA Financing; HomeStyle renovation program; and a Jumbo, 5% down program. We also can do hobby farms, Ag properties and Non-QM (stated income, verified assets for self-employed borrowers)! To see a detailed list of programs, visit our website: www.homeloanmortgageco.com/mortgageprograms
Last Updated: 12/16/22
Friday's bond market has opened in negative territory, erasing yesterday's afternoon gains and then some. Stocks are in selling mode again with the Dow down 298 points and the Nasdaq down 55 points. The bond market is currently down 21/32 (3.52%), which should cause this morning's mortgage rates to be higher than Thursday's early pricing by approximately .125 of a discount point. If you saw an intraday improvement yesterday, you will likely see a larger increase this morning.
There is nothing of importance scheduled for release today. As expected, we are seeing pressure in bonds as traders look to capture profits from the recent rally and adjust holdings ahead of the weekend. There is no reason to believe we will see a significant move in rates either direction this afternoon. Something unexpected happening is always a possibility, but the likelihood is fairly low today. The one possible exception is a Fed member speaking engagement at noon ET.
Next week has a good number of economic releases set to be posted. None of them are considered to be major reports, but a couple of them are considered to be more important than others. The most influential reports will come late in the week. Monday is the only day that doesn't have at least one item scheduled that we will be watching. Look for details on all of next week's calendar in Sunday evening's weekly preview.
If I were considering financing/refinancing a home, I would....
Lock if my closing were taking place within 7 days... Lock if my closing were taking place between 8 and 20 days... Float if my closing were taking place between 21 and 60 days... Float if my closing were taking place over 60 days from now...
This is only my opinion of what I would do if I was financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.*
*https://www.homeloanmortgageco.com/DailyRateLockAdvisory
Company NMLS ID: 479289 | LO NMLS: 208694
CO License: 100008854
FL Company License: MBR4416 | FL License: LO89221
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